Altcoin Trading Volume at 65%, Bitcoin Dominance Still at 57.8%

Altcoins accounted for up to 65% of Binance's trading volume during the recent cryptocurrency rebound. The trading focus, which was previously concentrated on Bitcoin (BTC) and Ethereum (ETH), has shifted to a broader range of tokens. According to CryptoQuant analysis, the market share of altcoin trading volume has reached its highest level in two years, while the trading volume share of Bitcoin was recorded at 21% and Ethereum at 13.6% during the same period. The market capitalization of altcoins, excluding Bitcoin, has increased by approximately $135 billion (about 187 trillion won). This figure indicates that market participation has partially shifted from Bitcoin to altcoins. However, an increase in trading volume does not necessarily equate to an increase in market capitalization. The Altcoin Season Index from Blockchain Center stood at 43 as of the 26th, significantly below the threshold of 75 that defines an altcoin season. According to data from CoinGecko, Bitcoin's dominance was at 57.8% as of the 27th, indicating that while trading volume has shifted to altcoins, the market remains centered around Bitcoin. Therefore, this market phase is closer to a rotation market rather than a solo performance by altcoins. The U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have warned about the risks associated with the virtual asset market. Ultimately, while the 65% market share of altcoin trading volume reflects a shift in market interest, the altcoin season index and Bitcoin dominance are still signaling different trends.

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